Gurgaon is one of the most significant cities in India and home to operations of more than 250 Fortune 500 companies. Recently renamed as Gurugram, this city is known for its posh lifestyle and corporate environment. Located in the Delhi-Haryana border, this IT hub is a part of the National Capital Region of India.
In such a fast-paced city, visiting banking institutions for a loan can become excessively troublesome. For such issues, financial institutions offer an online loan. These are more convenient as no person-to-person interaction is needed, and one can apply for these any time they want to.
However, there are both secured and unsecured online loans offered by lenders at present. Thus, a borrower must understand their differences so that they can make a choice smartly.
The status of being secured and unsecured can change a lot of things when talking about credit products. Lenders put forward the eligibility requirements and conditions based on this as well. The most prominent difference between secured and unsecured online credit facilities are:
Parameters |
Secured |
Unsecured |
Interest Rate |
Low |
High |
Collateral |
Needed |
Not Needed |
Documentation |
Only KYC documents, along with property papers (if LAP), are required |
Lenders ask for income proof and KYC documents |
Eligibility |
Considerably more flexible than an unsecured loan |
One shall possess 750+ credit score, credit utilisation ratio below 30%, and must meet the minimum income eligibility |
Loan Amount |
Depends on the LTV |
Is determined based on the person’s eligibility |
Approval time |
Time-consuming if it’s a LAP, but takes only a few hours if it’s a gold loan |
Usually lengthier than that of a gold loan but shorter than a LAP’s |
Hence, unsecured loans may be suitable for individuals looking for collateral-free, quick financing. However, the loan amount may not be that substantial in this case, and the interest rate charged can also bear down a person’s hard-earned savings.
To that end, individuals can leverage their idle gold to avail a fast loan in Gurgaon. That’s because it’s not only a more affordable alternative, but the processing period is considerably shorter and the eligibility terms less stringent.
A gold loan is one of the most easily accessible and fastest financing options because the asset is highly liquid. Owing to that reason, the associated cost of borrowing is also considerably lower.
Moreover, the eligibility requirements are also less stringent in this case. Thus, applicants with a low CIBIL score or ones new to credit can acquire external financing as well without hassle.
Besides these, borrowers can enjoy a range of other benefits by opting for our gold-backed cash loan in Gurgaon
With our online gold loan in Gurgaon, borrowers never have to feel the burden of long repayment tenures or other lending issues. Our customers get:
One only needs to be above 18 years old to avail our gold loan online. We do not ask for CIBIL score so that people with no prior credit history can also apply for a loan.
We understand that one opts for a loan when in need of funds and repayment can be a significant burden to their day-to-day life. Borrowers can enjoy monthly interest rates as low as 0.49% with us.
Get a loan as high as 80% of your gold’s value from Rupeek. To understand how we calculate the LTV for your loan, refer to our gold loan calculator.
We offer repayment options like pre-interest payment, single bullet payment, instalment any time during the tenure, EMI payments, etc. Borrowers have the liberty to choose per their convenience and repay loans without hassle.
Our existing customers can secure an extended credit line by opting for our overdraft facility named Rupeek Quick. With this, one can withdraw cash from their approved amount whenever they want, and the interest will be charged only on as much they have used.
At present we have our operations and representatives located in every corner of India. We will offer our doorstep facility and send our representative to your doorstep if you live in and around any of the following locations in Gurgaon.
If you are looking for an immediate cash loan in Gurgaon, you can save your precious time by bunking searches for “online loan lenders near me”. Instead, download our App or visit our website and avail our gold-backed online loan to get rid of troublesome financial burdens.
Comparision Parameters | Other online loans | Online Gold loan |
---|---|---|
Interest Rate | 2.39% | 0.49% |
Monthly Interest Amount | ||
Eligibility & Documentation | More Documents Needed | Only KYC Needed |
Processing Time & Disbursement | 2 days to 1 week | Within a day |
Required Gold Weight | - |
One only needs to submit their KYC documents and rent agreement/utility bills to apply for our gold-backed loan.
Yes, we offer our services in locations near to Gurgaon as well. We have partnered with several lending partners to reach as many families as we can.
Our partnered lenders only accept gold jewellery against our online loans, and no other gold article is applicable.
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